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Which ATM card do you recommend? And why?


nothingbutquestions

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Kabisay-an gid
On 5/1/2018 at 6:44 PM, RangerUp said:

Not at their own branch, 40,000p withdrawal with no charges.

Or Capital One.

Number of HSBC branches with an ATM in the entire central Philippines (the Visayas and Palawan) :

Cebu: One (Cebu Business Park)

Negros: Zero

Bohol: Zero

Siquijor: Zero

Leyte: Zero 

Samar: Zero

Biliran: Zero

Panay: Zero

Boracay: Zero 

Guimaras: Zero 

Palawan: Zero

Coron: Zero

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The HSBC card would be a poor choice for traveling around the Philippines. The 3% foreign transaction fees would really add up. If I were the OP, I wouldn't even renew the HSBC card.

Take the Capital One card to use as your primary card, and the USAA as a backup.

 

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Edited by Kabisay-an gid
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One benefit for me carrying the Charles Schwab card is I don't care which bank or ATM I use. I see 10 in line for BPI and a Security Bank ATM vacant. I can use any knowing I'm getting fee refunded. S

Best ATM for U.S. people - Schwab Best CC for travel - Chase Sapphire Preferred (or Reserve if lounge access is important to you).   Exchange rates better than available at the money changer

Yep - did mine last trip in person at local brokerage office- Fed Exe'd card in 2 business? days (Friday applied  Monday received)

Kabisay-an gid
6 hours ago, A_Simple_Man said:

Capitol One has an aggressive fraud prevention system in Philippines.  It means they frequently put a hold on my card when I use it at a Philippine ATM.  It is not the end of the world, it just means you have to find a Magic Jack or some other means of calling an 800 number in North America to talk to the fraud squad and convince them you are you.  Then they re-instate it until next time.  This happens to me most often when using ATMs in Philippines and on average I would say it happens about 1 in 3 times.  Usually I have no problems using it to buy things in a store.

The OP needs to call Capital One (and USAA) to advise them that he will be traveling to the Philippines, and his date of arrival there.

You can call Capital One's toll-free international phone number in the USA from the Philippines, from any cellphone with a Globe or Smart SIM card - you just need to make sure you have enough load left to complete the entire call. 

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Kabisay-an gid
33 minutes ago, RangerUp said:

You keep confusing credit and debit cards.

There is no fee for the HSBC debit card withdrawals from an HSBC branch, which are in all the major cities.

And there is no fee for Capital One credit card purchases.

You're putting out bad information. There are NOT HSBC branches "in all the major cities". Your statement is false.

The HSBC Cebu Business Park Branch is the ONLY HSBC bank branch in the ENTIRE central Philippines - all of the Visayas and Palawan.

There is only ONE HSBC bank branch on the entire island of Mindanao - located in Davao City.

At one time there were 14 branches in Metro Manila, but several of them have been closed down in the last few years.

The OP can use his Capital One card for credit card purchases, and his USAA card for ATM withdrawals.

 

 

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Edited by Kabisay-an gid
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Davaoeno
11 minutes ago, Kabisay-an gid said:

You're putting out bad information. There are NOT HSBC branches "in all the major cities". Your statement is false.

The HSBC Cebu Business Park Branch is the ONLY HSBC bank branch in the ENTIRE central Philippines - all of the Visayas and Palawan.

There is only ONE HSBC bank branch on the entire island of Mindanao - located in Davao City.

At one time there were 14 branches in Metro Manila, but several of them have been closed down in the last few years.

The OP can use his Capital One card for credit card purchases, and his USAA card for ATM withdrawals.

 

 

.

Surely you appreciate that when a person uses large fonts that  it makes everything they say true !!

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Kabisay-an gid

I repeat - OP can use Capital One card for credit card purchases, and USAA card for ATM withdrawals. Cut HSBC card into pieces and deposit in trash.

HSBC branches in major Philippine cities:

Cebu City: One

Davao City: One

Bacolod: NONE

Tacloban: NONE

Ormoc: NONE

Puerto Princesa: NONE

Cagayan de Oro: NONE

Tagbilaran: NONE

Lapu-Lapu: NONE

Mandaue: NONE

Talisay: NONE

Iloilo: NONE

Dumaguete: NONE

General Santos: NONE

 

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Soupeod
On 5/2/2018 at 1:55 AM, nothingbutquestions said:

Too late to edit:

Just spoke to HSBC and they informed me they now charge a 3% Foreign Transaction Fee !

So just what is the best and least expensive way, as of today, to receive funds from US accounts???

 

For convenience though, I usually use Xoom to transfer money to our Phil bank account.  $5 charge and your  Xoom exchange rate is one peso less than the Bank exchange rate (around that anyway).  Transaction usually takes one minute on average.(Money in the account)

I looked at many of the options of transferring money and many banks, at xoom, remit etc... You will basically be charged $25 (and Up) to move say a $1000 dollars.

The cheapest way is to open a Phil dollar and a peso account.  Deposit a check into your dollar account and wait for the check to clear, some folks have said anywhere 15-30 days and there may be a $5 dollar charge from the Phil bank.  Then you can let the bank exchange to peso for you or take your dollars to an exchange in any city.

I am sure there are a lot more options and people have their own way or prefer their own system.  However those are some examples I have found.

 

Edited by soupeod
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lolhahaha

If you have the USAA you could probably also get a NFCU account and credit card.

Here in the Philippines I get charged nothing extra and still get my cash rewards on all purchases.

I never use it at an ATM but there are no ATM fees as well on the US side.

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Soupeod
1 hour ago, lolhahaha said:

If you have the USAA you could probably also get a NFCU account and credit card.

Here in the Philippines I get charged nothing extra and still get my cash rewards on all purchases.

I never use it at an ATM but there are no ATM fees as well on the US side.

Great idea, in fact I have one already and will switch from USAA to NFCU too.  Thanks!

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Kabisay-an gid
7 hours ago, lolhahaha said:

never use it at an ATM but there are no ATM fees as well on the US side.

But are there ATM fees when used in the Philippines, and how much are they? Thanks.

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lolhahaha
5 hours ago, soupeod said:

Great idea, in fact I have one already and will switch from USAA to NFCU too.  Thanks!

Get their cash rewards credit card too. NFCU has 3% cash rewards so I use it at Gaisano and Robinsons and S&R several times a month and just pay it off before it's due. So I end up making a 3% profit by using it.

3 minutes ago, Kabisay-an gid said:

But are there ATM fees when used in the Philippines, and how much are they? Thanks.

Whatever the ATM here charges you. There are no ATM fees from NFCU.

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Kabisay-an gid
On 5/1/2018 at 1:55 PM, nothingbutquestions said:

Just spoke to HSBC and they informed me they now charge a 3% Foreign Transaction Fee !

 

As previously stated, HSBC has only ONE ATM location in the entire central Philippines  (Visayas & Palawan) - located in Cebu Business Park.

If you intend to travel some in the Philippines after moving here, the HSBC card will cost you a lot of money in ATM fees.

You'll have to use third party ATM's when you're virtually anywhere outside Cebu City - which means the 3% HSBC fee, plus the fee the entity that owns the ATM charges - usually P200. And you'll be limited to a maximum withdrawal of P10,000.

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RedRanger
On ‎5‎/‎1‎/‎2018 at 6:15 PM, Monsoon said:

Best ATM for U.S. people - Schwab

Best CC for travel - Chase Sapphire Preferred (or Reserve if lounge access is important to you).  

Exchange rates better than available at the money changer every time Ive checked. 

I am going to check into both of those

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Woolf
17 hours ago, Kabisay-an gid said:

plus the fee the entity that owns the ATM charges - usually P200. And you'll be limited to a maximum withdrawal of P10,000.

At BPI atms they now charge 250 php

I can withdraw 20,000 on my danish Master Card at least at a BPI atm

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Kabisay-an gid
3 hours ago, RedRanger said:

I am going to check into both of those

 

Chase Sapphire Preferred annual fee: $95

Chase Sapphire Reserve annual fee: $450

 

39 minutes ago, Woolf said:

At BPI atms they now charge 250 php

I can withdraw 20,000 on my danish Master Card at least at a BPI atm

 

For those who live in the Philippines some, most or all of the year - it would be wise to open an account with BPI and get a BPI debit card for ATM withdrawals.

They could still use the foreign credit card of their choice for purchases.

All local transactions using the BPI debit cards at any BPI or BPI Family Savings Bank ATM are free of charge.

BPI has more ATM's nationwide than BDO and Metrobank combined.

BPI charges only P15 for withdrawals made at non-BPI ATM's.

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Monsoon
3 hours ago, Kabisay-an gid said:

Chase Sapphire Preferred annual fee: $95

 

You will find that most, if not all worthwhile travel oriented cards are going to have an annual fee.  I save thousands of dollars per year in exchange fees using that card. I also get several thousands of dollars in reward travel per year just by using that card for my day to day purchases. So $95 is rather inconsequential  in my case. 

I dont carry the reserve, as I get my lounge access (and other benefits) through another card with an even higher annual fee. 

Everyone has different needs. I travel extensively and use the perks/benefits very regularly. In fact, I wish they would double or triple the annual fee of  cards with lounge access - those lounges sometimes get too crowded for my liking. 

Edited by Monsoon
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